Social Networking giant, Facebook has today announced that it has finalised a deal to acquire Oculus VR, creators of the Oculus Rift, an in-development virtual reality headset, for approximately $2 billion.

It seems as if Facebook are ready to take a big gamble in what is beginning to become more and more the next big thing in video game, virtual reality. The price point of $2 billion is spread across $400 million in cash and 23.1 million shares of Facebook common stock (currently valued at $1.6 billion as of March 21st). The amount could potentially increase by a further $300 million if Oculus VR achieves certain milestones.

Facebook founder and CEO, Mark Zuckerberg and Brendan Iribe, co-founder and CEO of Oculus VR had the following to say on the deal.

“Mobile is the platform of today, and now we’re also getting ready for the platforms of tomorrow,” said Facebook founder and CEO, Mark Zuckerberg. “Oculus has the chance to create the most social platform ever, and change the way we work, play and communicate.”

“We are excited to work with Mark and the Facebook team to deliver the very best virtual reality platform in the world,” said Brendan Iribe, co-founder and CEO of Oculus VR. “We believe virtual reality will be heavily defined by social experiences that connect people in magical, new ways. It is a transformative and disruptive technology, that enables the world to experience the impossible, and it’s only just the beginning.”

Oculus VR’s flagship product, Oculus Rift is a next-generation virtual reality headset that is currently in development. Since it was revealed at E3 2012 and successfully crowd funded via Kickstarter the Oculus Rift has been constantly updated, while the company has not stated the final specs for the machine, it will at least display in 1080p .

With Sony Computer Entertainment revealing their own Virtual Reality headset, Project Morpheus for the PlayStation 4 it seems as if the VR arms race has begun.

Source: PR newswire